Berkshire Won’t Offer to Control Occidental, Buffett Says
A groundbreaking ceremony at the Occidental Petroleum and 1PointFive Direct Air Capture (DAC) plant in Ector County, Texas, on April 28.
Photographer: Jordan Vonderhaar/BloombergThis article is for subscribers only.
Berkshire Hathaway Inc. won’t make an offer for full control of Occidental Petroleum Corp., Warren Buffett said Saturday, tempering speculation he was seeking to own the energy producer after spending months snapping up its shares.
Berkshire didn’t rule out buying more stock of the Houston-based firm, adding it may or may not seek further purchases. The Berkshire chief executive officer also praised its CEO, Vicki Hollub, at Berkshire’s annual meeting in Omaha, Nebraska.